Fonville Wealth Management LLC Takes Position in Visa Inc. (NYSE:V)

Fonville Wealth Management LLC purchased a new stake in Visa Inc. (NYSE:V - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,211 shares of the credit-card processor's stock, valued at approximately $423,000.

A number of other large investors have also made changes to their positions in the stock. Lakeridge Wealth Management LLC increased its holdings in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after acquiring an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC purchased a new stake in shares of Visa during the fourth quarter worth about $306,000. Aptus Capital Advisors LLC grew its holdings in shares of Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after buying an additional 30,185 shares in the last quarter. Eagle Strategies LLC grew its holdings in shares of Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after buying an additional 63 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in shares of Visa by 7.7% during the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock worth $192,948,000 after buying an additional 43,546 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. William Blair reiterated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Susquehanna reiterated a "positive" rating on shares of Visa in a report on Friday, March 21st. UBS Group lifted their price target on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Macquarie lowered their price target on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Truist Financial assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 target price for the company. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $372.84.

Visa Stock Performance

Shares of V stock traded up $3.39 during trading hours on Monday, reaching $351.32. The stock had a trading volume of 1,804,100 shares, compared to its average volume of 6,661,920. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The firm has a 50-day simple moving average of $356.93 and a 200-day simple moving average of $342.86. The firm has a market capitalization of $648.23 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter last year, the company earned $2.51 EPS. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.67%. Visa's payout ratio is 23.72%.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,108 shares of company stock valued at $36,771,200. Company insiders own 0.13% of the company's stock.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.